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COMPREHENSIVE ACH & CHECK PAYMENT PROCESSING MODULAR SYSTEM

Centralized Returns


The Best Approach

Centralized Returns enables companies with the opportunity to develop significant savings on bank return fees.

Key Features

  • Develop immediate savings and reductions in NSF bank fees/charges
  • Improve your overall collections and payment efficiency
  • Customized endorsement stamp, containing verbiage necessary to re-direct NSF checks to EFT Network
  • Built-in ability to electronically re-presentment NSF checks
  • Applicable to any type of deposited check
  • Actual NSF checks can be returned via US Mail or overnight courier

How Does Centralized Returns Work?

  1. EFT Network establishes a reserve deposit account for the client.

  2. Checks are endorsed with a specially designed and controlled Centralized Returns endorsement stamp which include the routing information, unique customer ID number, and deposited at your bank as normal.

  3. Items are returned by the check writer’s bank to EFT Network Centralized Returns system.

  4. Centralized Returns converts your return check items into a scanned viewable check and data file that will be made available to you on our secure web hosted software network www.redeposit.com. The paper check will be forwarded to you a few days later.

  5. Client’s account is debited for the amount of the returned checks.
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